Exhibit 99.1

PRESS RELEASE

FOR IMMEDIATE RELEASE
Contact:		Douglas Ian Shaw
		Corporate Secretary (631) 727-5667		4 West Second Street Riverhead, NY 11901 (631) 727-5667 (Voice) - (631) 727-3214 (FAX) invest@suffolkbancorp.com

SUFFOLK BANCORP ANNOUNCES EARNINGS FOR THE FOURTH QUARTER

AND THE FULL YEAR OF 2010

Riverhead, New York, January 18, 2011 — Suffolk Bancorp (NASDAQ - SUBK) today released the results of its operations during the fourth quarter and full year of 2010. Earnings-per-share were $0.41, a decrease of 24.1 percent from $0.54 during the comparable period of 2009. Net income was $4,008,000, down 22.2 percent from $5,153,000 during the same quarter last year. Earnings-per-share for the year to date were $1.56, down 33.6 percent from $2.35 a year ago. Net income for the year was $15,020,000, down 33.4 percent from $22,548,000 posted during 2009. A detailed financial summary follows the text.

Key reasons for the changes in performance include the following:

Decrease in net income quarter to comparable quarter of 2009:

Decrease in net income year to year:

J. Gordon Huszagh, President and Chief Executive Officer remarked, “Despite the decline in net income for the quarter and the year, Suffolk Bancorp’s financial performance continues to compare favorably to its peer group. Return on average equity was 10.61 percent for the quarter and 10.46 percent for the year, below our historic norms, but far above the average of 2.71 percent for our peer group at the end of the third quarter, the most recent period for which peer information is available. Return on average assets was 0.96 percent for the quarter and 0.88 percent for the year, again well above the peer average of 0.32 percent. Our net interest margin was 5.01 percent and 5.05 percent respectively, still among the widest in the industry owing to the continuing low cost of funds. We increased our total risk-based capital ratio to 13.22 percent at December 31, 2010 from 12.82 percent at September 30, 2010 and 11.73 percent at December 31, 2009.”

PRESS RELEASE January 18, 2011 Page 2 of 5

Mr. Huszagh went on to say, “While our provision for loan losses increased 296.4 percent year over year, it has trended downward slightly over the course of the year. For the fourth quarter of 2010, it amounted to $2.5 million, down from $2.6 million for the third quarter, itself down from $2.9 million for the second quarter, which was down from $8.9 million during the first quarter of 2010. Given ongoing uncertainty about the timing and extent of economic recovery in our service area, we cannot promise that this trend will continue. Nonetheless, we strive to manage our loan portfolio as effectively as possible, doing everything we can to strengthen our relationships with our customers. Loans secured by commercial real estate have increased by 15.5 percent year over year. However, those increases were offset by a 36.6 percent decrease in real estate construction loans as the projects securing those loans are completed, move into permanent financing, and begin to generate their intended cash flows. The actual net increase in those two categories combined is 1.82 percent, including some new business.”

He continued, “As I have for several periods now, I would like to provide additional information regarding the quality of our assets. Non-performing assets amounted to $42,732,000 (including foreclosed real estate of $7,549,000), or 3.79 percent of total loans and foreclosed real estate at December 31, 2010; up from $29,372,000, or 2.53 percent at this time last year. This continues to compare favorably to the average of our peer group, which was 5.15 percent at September 30, 2010, the most recent period for which information is available. The actual exposure that presents to Suffolk is as follows: of the $35,183,000 of non-performing loans, $32,637,000 is secured by collateral valued at about $50,542,000 having a cumulative loan-to-value of approximately 65 percent. The unsecured portion of $2,546,000 amounts to 23 basis points (23/10,000ths) of net loans at quarter end. I am pleased also to report that the credit of $7,765,000 to one borrower, previously disclosed, has been removed from non-accrual status after continued performance in accordance with its terms.”

Mr. Huszagh continued, “On another matter, the staff at SCNB has worked diligently to address all articles of the agreement between the Suffolk County National Bank (“SCNB”) and the Office of the Comptroller of the Currency (“OCC”), signed on October 25, 2010. SCNB believes that it has submitted the information required by the agreement on a timely basis. We look forward to working with the OCC to comply fully with the agreement as soon as possible.”

Mr. Huszagh concluded, “We believe that economic improvement on “Main Street” will be at a pace slower than we had all hoped for, and it will require considerable financial discipline on the part of individuals and businesses until there is clear evidence of recovery. This has been a challenging year, not alone for those of us here at Suffolk Bancorp, but for our customers and the communities we serve. That said, we feel rewarded in our efforts to remain profitable in difficult times.”

Suffolk Bancorp is a one-bank holding company engaged in the commercial banking business through SCNB, a full-service commercial bank headquartered in Riverhead, New York. Organized in 1890, SCNB has 30 offices in Suffolk County, New York.

(Information regarding Suffolk Bancorp’s peer group was drawn from Federal Financial Institutions Examination Council - Uniform Bank Performance Report as of September 30, 2010 - Insured commercial banks having assets between $1 billion and $3 billion.)

Safe Harbor Statement Pursuant to the Private Securities Litigation Reform Act of 1995

This press release may include statements which look to the future. These can include remarks about Suffolk Bancorp, the banking industry, and the economy in general. These remarks are based on current plans and expectations. They are subject, however, to a variety of uncertainties that could cause future results to vary materially from Suffolk’s historical performance, or from current expectations. Factors affecting Suffolk Bancorp include particularly, but are not limited to: changes in interest rates; increases or decreases in retail and commercial economic activity in Suffolk’s market area; variations in the ability and propensity of consumers and businesses to borrow, repay, or deposit money, or to use other banking and financial services; results of regulatory examinations; any failure by us to comply with our written agreement with the OCC (the “Agreement”) or the individual minimum capital ratios for the Bank established by the OCC; the cost of compliance with the Agreement; and the potential that net charge-offs are higher than expected. Further, it could take Suffolk longer than anticipated to implement its strategic plans to increase revenue and manage non-interest expense, or it may not be possible to implement those plans at all. Finally, legislation, regulation, or accounting standards may require Suffolk to change its practices in ways that materially change the results of operations.

PRESS RELEASE January 18, 2011 Page 3 of 5

STATISTICAL SUMMARY

(unaudited, in thousands of dollars except for share and per share data)

PRESS RELEASE January 18, 2011 Page 4 of 5

CONSOLIDATED STATEMENTS OF CONDITION

(unaudited, in thousands of dollars except for share and per share data)

PRESS RELEASE January 18, 2011 Page 5 of 5

CONSOLIDATED STATEMENTS OF INCOME

(unaudited, in thousands of dollars except for share and per share data)